The amount of palm oil to the Indian edible oil import will probably sink into this marketing period to a record low since palm oil prices have risen strongly and have lost their advantages compared to other edible oils.
India is the world's largest importer of edible oils. 30% palm oil prices had risen in the last 12 months. Meanwhile, the prices of soybean oil were decreased.
Edible oils are an important part of the basic food supply in Indian cuisine. The previous price advantage of palm oil over soybean oil has fallen now strongly, as traders in the Indian market for edible oils. The advantage for Palm oil was USD/tonne by 2015 more than 171, now is the difference only about 70 USD/tonne.
Overall, India will import in the current season 2015 / 16 14.6 million tons of edible oil, by the increasing demand for the 1.4% are more than a year ago. However, palm oil imports will decrease to 12% (8.4 million tonnes). This decreases the palm oil proportion in total imports 57%, which is the lowest value since the early 1990s. 2015 even 86% were still 66% and 2007/08.
In July, India's palm oil import dropped to 570.051 tons, the lowest level since February 2015. However, the import of soybean oil rose sharply. In 2015/16, India has imported 3.1 million metric tons of soybean oil and will increase projected for the entire year to 4.25 million tons. These are 42% more than were introduced last year as a three million tonnes.
India imports palm oil mainly from Malaysia and Indonesia, soybean oil is introduced, however, from Argentina and Brazil. To maintain its competitiveness, the palm oil prices decrease sharply, so the operators of mills in the country.
